Barclays PLC — Capital/Financing Update 2011

Jan 21, 2011

Final Terms

BARCLAYS BANK PLC

(Incorporated with limited liability in England and Wales)

BARCLAYS CAPITAL (CAYMAN) LIMITED

(Incorporated with limited liability in the Cayman Islands)

GLOBAL STRUCTURED SECURITIES PROGRAMME

for the issue of Securities

BARCLAYS BANK PLC

GBP 1,000,000 Commodity Linked Notes due 21 January 2016 (the "Notes")

G20112CFL48D

under the Global Structured Securities Programme

Issue Price: 100 per cent. of par

This document constitutes the final terms of the Securities(the "Final Terms") described herein for the purposes of Article 5.4 of the Directive 2003/71/EC and is prepared in connection with the Global Structured Securities Programme established by Barclays Bank PLC (the "Bank") and Barclays Capital (Cayman) Limited ("BCCL") and is supplemental to and should be read in conjunction with the Base Prospectus dated 6 August 2010, as supplemented and amended from time to time, which constitutes a base prospectus (the "Base Prospectus") for the purpose of the Directive 2003/71/EC. Full information on the Issuer and the offer of the Securities is only available on the basis of the combination of these Final Terms and the Base Prospectus. The Base Prospectus is available for viewing during normal business hours at the registered office of the Issuer and the specified office of the Issue and Paying Agent for the time being in London and copies may be obtained from such office. Words and expressions defined in the Base Prospectus and not defined in this document shall bear the same meanings when used herein.

The Issuer accepts responsibility for the information contained in these Final Terms. To the best of its knowledge and belief (having taken all reasonable care to ensure that such is the case) the information contained in these Final Terms is in accordance with the facts and does not contain anything likely to affect the import of such information.

Investors should refer to the sections headed "Risk Factors" in the Base Prospectus for a discussion of certain matters that should be considered when making a decision to invest in the Securities.

Barclays Capital

Final Terms dated 21 January 2011

The distribution of this document and the offer of the Securities in certain jurisdictions may be restricted by law. Persons into whose possession these Final Terms come are required by the Bank to inform themselves about and to observe any such restrictions. Details of selling restrictions for various jurisdictions are set out in "Purchase and Sale" in the Base Prospectus. In particular, the Securities have not been, and will not be, registered under the US Securities Act of 1933, as amended, and are subject to US tax law requirements. Trading in the Securities has not been approved by the US Commodity Futures Trading Commission under the US Commodity Exchange Act of 1936, as amended. Subject to certain exceptions, the Securities may not at any time be offered, sold or delivered in the United States or to US persons, nor may any US persons at any time trade or maintain a position in such Securities.

Part A

Terms and Conditions of the Securities

The Securities shall have the following terms and conditions, which shall complete, modify and/or amend the Base Conditions and/or any applicable Relevant Annex(es) set out in the Base Prospectus dated 6 August 2010.

Parties
Issuer:	Barclays Bank PLC
Guarantor:	N/A
Manager[s]:	Barclays Bank PLC
Determination Agent:	Barclays Bank PLC
Issue and Paying Agent: Stabilising Manager:	The Bank of New York Mellon N/A
Registrar:	N/A
CREST Agent:	N/A
Paying Agents:	N/A
Transfer Agent:	N/A
Exchange Agent:	N/A
Additional Agents:	N/A

THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND THE SECURITIES COMPRISE BEARER SECURITIES THAT ARE SUBJECT TO US TAX LAW REQUIREMENTS. SUBJECT TO CERTAIN EXCEPTIONS, THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, US PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT ("REGULATION S")). THESE FINAL TERMS HAVE BEEN PREPARED BY THE ISSUER FOR USE IN CONNECTION WITH THE OFFER AND SALE OF THE SECURITIES OUTSIDE THE UNITED STATES TO NON-US PERSONS IN RELIANCE ON REGULATION S AND FOR LISTING OF THE SECURITIES ON THE RELEVANT STOCK EXCHANGE, IF ANY, AS STATED HEREIN. FOR A DESCRIPTION OF THESE AND CERTAIN FURTHER RESTRICTIONS ON OFFERS AND SALES OF THE SECURITIES AND DISTRIBUTION OF THESE FINAL TERMS, THE BASE PROSPECTUS AND THE SUPPLEMENTAL PROSPECTUS, SEE "PURCHASE AND SALE" IN THE BASE PROSPECTUS.

ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED STATES INCOME TAX LAWS, INCLUDING THE LIMITATIONS PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

Provisions relating to the Securities

1	(i)	Series:	G20112CFL48D
	(ii)	Tranche:	1
2	Currency:		Pound Sterling ("GBP")
3	Notes:		Applicable
	(i)	Aggregate Nominal Amount as at the Issue Date:	GBP 1,000,000
	(ii)	Specified Denomination:	GBP 1
	(iii)	Calculation Amount per Security as at the Issue Date:	Specified Denomination
4	Certificates:		N/A
5	Form:
	(i)	Global/Definitive/Uncertificated and dematerialised:	Global Bearer Securities: Temporary Global Security, exchangeable for a Permanent Global Security
	(ii)	NGN Form:	N/A
	(iii)	Held under the NSS:	N/A
	(iv)	CGN Form:	Applicable
	(v)	CDIs:	N/A
6			11 November 2010
7	Trade Date:		21 January 2011
8	Issue Date: Redemption Date:		21 January 2016, subject to adjustment in accordance with the Business Day Convention.
9	Issue Price:		100 per cent. of the Aggregate Nominal Amount
10		Relevant Stock Exchange[s]:	London Stock Exchange
11	The following Relevant Annex(es) shall apply to the Securities (specify each applicable Relevant Annex):		Commodity Linked Annex
		Provisions relating to interest (if any) payable on the Securities
12	Interest:		N/A
13		Interest Amount:	N/A
14		Interest Rate[s]:	N/A
	(i)	Fixed Rate:	N/A

	(ii)	Floating Rate:	N/A
	(iii)	Variable Rate:	N/A
	(iv)	Zero Coupon:	N/A
	(v) Coupon:	Bond Linked Securities – Fixed	N/A
	(vi)	Bond Linked Securities – Pass Through Interest:	N/A
15		Screen Rate Determination:	N/A
16		ISDA Determination:	N/A
17	Margin:		N/A
18		Minimum/Maximum Interest Rate:	N/A
19		Interest Commencement Date:	N/A
20		Interest Determination Date:	N/A
21		Interest Calculation Periods:	N/A
22		Interest Payment Dates:	N/A
23		Day Count Fraction:	N/A
24	the Conditions:	Fall back provisions, rounding provisions, denominator and any other terms relating to method of calculating interest, if different from those set out in the Base	N/A
		Provisions relating to Redemption
25		Settlement Method:	(i) For the purposes of Condition 5.1 of the Base Conditions:
			Cash Settlement; and
26		Settlement Currency:	GBP
27		Settlement Number:	As defined in Condition 24 of the Base Conditions
28		Terms relating to Cash Settled Securities:
	(i)	Final Cash Settlement Amount:	On the Redemption Date, each Note will be redeemed by the Issuer at its Final Cash Settlement Amount as determined by the Determination Agent in accordance with the following:
			Calculation Amount per Security* [100% + Max(-5%, Asian BasketFinal - 1)]

Where:

				[ ] n 1 ∑ = AsianBasket Basket ( t ) Final 1 [ n ] t =
				⎡ ⎤ P ( t ) 4 ∑ ( ) i Basket ( t ) = W × ⎢ ⎥ ( ) i P = ⎢ ⎥ ⎣ ⎦ i 1 ( ) i Initial
				"W(i)" means the weight of the Relevant Commodity(i) in the Basket, as set out in the Schedule; "P(i)Initial" means the Relevant Commodity Price for the Relevant Commodity(i) in the Basket on the Strike Date; "P(i)(t)" means the Relevant Commodity Price for the Relevant Commodity(I) in the Basket on Observation Date (t); and "n" means the number of Observation Dates during the Observation Period. "Strike Date" means 14 January 2011 "Observation Date" means the Commodity Business Day during the Observation Period "Observation Period" means the period from and including 14 December 2015 to and including the Final Valuation Date "Final Valuation Date" means 14 January 2016
	(ii)		Early Cash Settlement Amount:	As defined in Condition 24 of the Base Conditions
	(iii)		Early Cash Redemption Date:	As defined in Condition 24 of the Base Conditions
29		Securities:	Terms relating to Physically Delivered	N/A
30			Nominal Call Event:	Applicable
	(i)		Nominal Call Threshold Amount:	As defined in Condition 24 of the Base Conditions
	(ii)		Nominal Call Threshold Percentage:	As defined in Condition 24 of the Base Conditions
	(iii)		Cash Settled Securities:
		(a)	Optional Cash Settlement Amount:	As defined in Condition 24 of the Base Conditions

		(b)	Optional Cash Redemption Date	As defined in Condition 24 of the Base Conditions
	(iv)		Physically Delivered Securities:	N/A
	(v)		Issuer Notice Period:	As per Condition 5.3 of the Base Conditions
31	Call Option:			N/A
32	Put Option:			N/A
33			Specified Early Redemption Event:	N/A
34	Maximum and Minimum Redemption Requirements:			N/A
35	Additional Disruption Events in addition to those specified in Condition 24 of the Base Conditions and any applicable Relevant Annex:			N/A
36			Share Linked Securities:	N/A
37			Index Linked Securities (Equity indices only):	N/A
38			Inflation Linked Securities:	N/A
39			FX Linked Securities:	N/A
40	Credit Linked Securities:			N/A
41	Commodity Linked Securities:			Applicable
	(i)		Relevant Commodity, Commodity Index, Basket of Commodities/Commodity Indices (including weighting of commodities/commodity indices) (each a "Reference Asset"):	Basket of 4 Commodities as set out in the Schedule
	(ii)		Commodity Reference Price:	In respect of a Relevant Commodity(i) in the Basket, as set out in the Schedule
	(iii) Price Source(s):			In respect of a Relevant Commodity(i) in the Basket, as set out in Commodity Linked Annex
	(iv)		Exchange(s):	In respect of a Relevant Commodity(i) in the Basket, as set out in Commodity Linked Annex
	(v)		Specified Price:	In respect of a Relevant Commodity(i) in the Basket
	(vi)		Delivery Date:	In respect of a Relevant Commodity(i) in the

			Basket
	(vii)	Pricing Date:	The Strike Date and each Observation Date, as the case may be, subject to adjustment in accordance with the Commodity Business Day Convention
		Common Pricing:	Inapplicable
		(include only if Basket of Commodities/Commodity Indices)
	(viii)	Commodity Market Disruption Events:	As per the Commodity Linked Annex
		Disruption Fallback(s):	As per the Commodity Linked Annex
		Fallback Reference Price:	N/A
		Additional provisions for Trading Disruption:	N/A
	(ix)	Adjustments to Commodity Index:	N/A
	(x)	Commodity Business Day Convention:	Following
	(xi)	US Commodities Restrictions:	N/A
42	Proprietary Index Linked Securities:		N/A
43	Bond Linked Securities:		N/A
44		Mutual Fund Linked Securities:	N/A
		Provisions relating to Settlement
45		Minimum Settlement Amount:	GBP 50,000
46		Settlement in respect of VP Notes, APK Registered Securities, Dutch Securities, Italian Securities, Swedish Registered Securities, VPS Registered Securities or Spanish Securities:	N/A
47		Additional provisions relating to Taxes and Settlement Expenses:	N/A
Definitions
48		Business Day:	As defined in Condition 24 of the Base Conditions
49		Additional Business Centre(s):	N/A
		Selling restrictions and provisions relating to certification
50		Non-US Selling Restrictions:	As described in the Base Prospectus
51		Applicable TEFRA exemption:	TEFRA D: D Rules Applicable

General

52	Business Day Convention:	Modified Following
53	Relevant Clearing System[s]:	Euroclear
		Clearstream, Luxembourg
54	If syndicated, names [and addresses] of Managers [and underwriting commitments]:	N/A
55	Details relating to Partly Paid Securities:	N/A
56	Relevant securities codes:	ISIN: XS0563657880
		Common Code: 056365788
57	Modifications to the Master Subscription Agreement and/or Agency Agreement:	N/A
58	Additional Conditions and/or modification to the Conditions of the Securities:	N/A

Part B Other Information

1 LISTING AND ADMISSION TO TRADING

(i)	Listing	London
(ii)	Admission to trading:	Application has been made by the Issuer (or on its behalf) for the Securities to be admitted to trading on the London Stock Exchange's Regulated Market with effect on or around the Issue Date
(iii)	Estimate of total expenses related to admission to trading:	GBP300

2 RATINGS

Ratings: The Securities have not been individually rated.

3 NOTIFICATION

N/A

4 INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE

Save as discussed in "Purchase and Sale", so far as the Issuer is aware, no person involved in the offer of the Securities has an interest material to the offer.

5 REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES

(i) Reasons for the offer: General funding

6 FIXED RATE SECURITIES ONLY - YIELD

Indication of yield: N/A

7 FLOATING RATE SECURITIES ONLY - HISTORIC INTEREST RATES

N/A

8 PERFORMANCE OF REFERENCE ASSET(S) OR OTHER VARIABLE, EXPLANATION OF EFFECT ON VALUE OF INVESTMENT AND ASSOCIATED RISKS AND OTHER INFORMATION CONCERNING THE REFERENCE ASSET(S) AND/OR OTHER UNDERLYING

N/A

9 PERFORMANCE OF RATE[S] OF EXCHANGE AND EXPLANATION OF EFFECT ON VALUE OF INVESTMENT

N/A

10 OPERATIONAL INFORMATION

Any clearing system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking Société Anonyme (together with their addresses) and the relevant identification number(s):	N/A
Delivery:	Delivery free of payment
Names and addresses of additional Paying Agents(s) (if any):	N/A
Intended to be held in a manner which would allow Eurosystem eligibility:	No

11 OFFER INFORMATION

The Issue Price includes a commission element shared with a third party. Further details of the commission element are available upon request.

Schedule

Commodity Basket

i	Relevant Commodity	W(i)	Commodity Reference Price	Specified Price	Delivery Date
1	Corn	25%	CORN-CBOT	Official Settlement Price	First Nearby Month (Second Nearby Month for any Pricing Date which falls on or after the earlier to occur of (i) the first notice day and (ii) the last trading day of the relevant Futures Contract).
2	Soybeans	25%	SOYBEANS-CBOT	Official Settlement Price	First Nearby Month (Second Nearby Month for any Pricing Date which falls on or after the earlier to occur of (i) the first notice day and (ii) the last trading day of the relevant Futures Contract).
3	Sugar	25%	SUGAR # 11 (WORLD)-NYBOT	Official Settlement Price	First Nearby Month (Second Nearby Month for any Pricing Date which falls on or after the earlier to occur of (i) the first notice day and (ii) the last trading day of the relevant Futures Contract).
4	Cotton	25%	COTTON NO.2- NYBOT	Official Settlement Price	First Nearby Month (Second Nearby Month for any Pricing Date which falls on or after the earlier to occur of (i) the first notice day and (ii) the last trading day of the relevant Futures Contract).